Michael Heise, chief economist of Allianz on the current situation in China.

Allianz SE
Munich, Jan 08, 2016

Michael Heise, Chief economist of Allianz.

The turmoil on stock exchanges is overdone and does not presage a slowdown in global growth. One thing is clear, the days of supercharged Chinese growth of 8 percent and more are over. The realignment of the Chinese growth model and the reduction of existing imbalances are no simple task. But the end of the credit-fueled investment boom will not cause the economy to crash. The Chinese government and the central bank still have sufficient leeway to prevent a nasty landing.

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